MBA NEWS

Sixty seconds, dozens of great entrepreneurial ideas

Even in the down economy, there’s no shortage of ideas for
new ventures, judging by the turnout at the recent Fourth Annual Ideas
Challenge hosted by the Gigot Center for Entrepreneurial Studies at the
University of Notre Dame.

Nearly 200 students representing programs and colleges from
across the campus attended the Sept. 21 event held at the Mendoza College of
Business. Eighty-six students pitched their best entrepreneurial ideas in the 60
seconds allotted, competing for a series of prizes, including three iPads, two Platinum
Keurig Coffee Brewers, and gift cards from local vendors. The 21 winners included Engineering, Business,
and Arts and Letters undergraduates, as well as Notre Dame MBAs.

Among the winning ideas were an Indiana-based whiskey
distillery, a social venture whereby Notre Dame students would donate 99 cents
over 99 Fridays into a fund that goes to a new charity each year, a walking
path constructed of solar panels, an automatic bike lock, and an online
application which would organize all of a student’s graduate school application
information.

“One of the intimidating factors that keeps students from
entering a business plan competition,” she explained, “is their fear that they
don’t have any ideas. The Challenge demystifies
the process of idea generation, in a fun and informal climate. What do they have to lose? It’s one minute! From there, it’s a small step to come up with
a two-page overview that is the initial entry for the McCloskey Business Plan
Competition later in the year.”

“It’s all about messaging,” Hollis continued. “Participation has increased every year, so
clearly the word is getting out.”

The annual McCloskey Business Plan Competition is a year-long
event for both for-profit and nonprofit ventures that either haven’t been
launched or are in the earliest stages of launch. The 2010-2011 competition
offered more than $100,000 in prizes.

Registration for the 2011-2012 McCloskey Competition is due Nov.
7th, with the final round of judging taking place April 20. For more
information on the Gigot Center or the McCloskey Business Plan Competition,
including an event timeline and information about previous winning ventures,
visit http://business.nd.edu/gigot_center/